he was the right back here tomorrow. ♪ ♪ [music playing] ♪ ♪ lou: good evening, everybody. a lot has changed in the last 24 hours. tonight it appears there is little likelihood that president obama intends to make any meaningful offer of spending cuts with which to balance the republican author of tax revenue increases. president obama, maintaining a highly believable effort of the white house and congress to resolve differences that would avoid the fiscal cliff. that is $1.2 trillion in automatic budget cuts and $600 billion in tax hikes that would result from the expiration on december 31, the consequences would simply be devastating. the economic impact on the country and the american people would mean the loss of hundreds of thousands, if not millions of jobs. the very likely onset of yet another recession. the white house timothy geithner on capitol hill today. he went there empty-handed to meet the party leaders. house speaker john boehner who has already offered to raise tax revenue finds himself not in a negotiation, but rather competing in the white house media cam